CANADA Prime Minister
ITALY (2017 chairman) Prime Minister
JAPAN Prime Minister
UNITED KINGDOM Prime Minister
UNITED STATES President
EUROPEAN UNION Council President
Donald Tusk Commission President
Flags of G7 members as seen at University Avenue in
The GROUP OF 7 (G7) is a group consisting of Canada, France, Germany,
Italy, Japan, the
United Kingdom and the United States. The European
Union is also represented within the G7. These countries are the seven
major advanced economies as reported by the International Monetary
Fund : the G7 countries represent more than 64% of the net global
wealth ($263 trillion). A very high net national wealth and a very
Human Development Index
Human Development Index are the main requirements to be a member
of this group. The G7 countries also represent 46% of the global GDP
evaluated at market exchange rates and 32% of the global purchasing
power parity GDP.
43rd G7 summit was held in
Taormina (ME ),
Italy in May 2017.
* 1 History
* 2 Function
* 3 Work
* 4 List of summits
* 4.1 Leaders
* 5 Heads of State and Government and EU representatives, as of 2017
* 5.1 Member country data
* 5.2 Member facts
* 6 Protests
* 7 See also
* 8 References
* 9 External links
The G7 originates with the
Group of Six . It was founded ad hoc in
1975, consisting of finance ministers and central bank governors from
Germany , Italy, Japan, the
United Kingdom and the United
States, when Giscard d\'Estaing invited them for an "informal
gathering at the chateau of
Rambouillet , near Paris in a relaxed and
private setting". The intent was "to discuss current world issues
(dominated at the time by the oil crisis) in a frank and informal
manner". The G6 followed an unofficial gathering starting in 1974 of
senior financial officials from the United States, the United Kingdom,
Japan and France. They were called the "Library group"
or the "Group of Five" because they met informally in the White House
Library in Washington, DC. :34 (this is not to be confused with the
current, but completely different "
Group of Five ", a group of the
five top nations with emerging economies formed in 2005).
Canada became the seventh member to begin attending the summits in
1976, after which the name 'Group 7' or G7 _Summit_ was used.
Following 1994\'s G7 summit in
Naples , Russian officials held
separate meetings with leaders of the G7 after the group's summits.
This informal arrangement was dubbed the Political 8 (P8) – or,
colloquially, the G7+1. At the invitation of Prime Minister of the
Tony Blair and President of the
United States Bill
Clinton , Russian President
Boris Yeltsin was invited first as a
guest observer, later as a full participant. It was seen as a way to
encourage Yeltsin's capitalist reforms. After the 1997 meeting Russia
was formally invited to the next meeting and formally joined the group
in 1998, resulting in a new governmental political forum, the Group of
Eight , or G8 . However
Russia was ejected from the G8 political
forum in 2014 following the Russian annexation of Crimea .
The organization was founded to facilitate shared macroeconomic
initiatives by its members in response to the collapse of the exchange
rate 1971, during the time of the
Nixon Shock , the 1970s energy
crisis and the ensuing recession. Its goal was fine tuning of short
term economic policies among participant countries to monitor
developments in the world economy and assess economic policies.
2nd 7th 9th 14th 16th 21st
23rd 28th 30th 36th 38th Host venues of
G7 summits in North America 1st 3rd , 10th , 17th
4th , 11th 6th , 13th 8th 15th 18th 20th
22nd 24th 25th 27th 29th 31st
32nd 33rd 35th 37th 39th 40th
41st 43rd ' Host venues of G7 summits in Europe
5th , 12th , 19th 26th 34th 42nd Host venues
of G7 summits in
Since 1975, the group meets annually on summit site to discuss
economic policies; since 1987, the G7 finance ministers have met at
least semi-annually, up to 4 times a year at stand-alone meetings.
In 1996, the G7 launched an initiative for the 42 heavily indebted
poor countries (HIPC).
In 1999, the G7 decided to get more directly involved in "managing
the international monetary system" through the Financial Stability
Forum , formed earlier in 1999 and the G-20, established following the
summit, to "promote dialogue between major industrial and emerging
market countries". The G7 also announced their plan to cancel 90% of
bilateral, and multilateral debt for the HIPC, totaling $100 billion.
In 2005 the G7 announced, debt reductions of "up to 100%" to be
negotiated on a "case by case" basis.
In 2008 the G7 met twice in Washington, D.C. to discuss the global
financial crisis of 2007-2010 and in February 2009 in Rome. The
group of finance ministers pledged to take "all necessary steps" to
stem the crisis.
On 2 March 2014, the G7 condemned the "
Russian Federation 's
violation of the sovereignty and territorial integrity of Ukraine."
The G7 stated "that the
International Monetary Fund (IMF) remains the
institution best prepared to help Ukraine address its immediate
economic challenges through policy advice and financing, conditioned
on needed reforms", and that the G7 was "committed to mobilize rapid
technical assistance to support Ukraine in addressing its
macroeconomic, regulatory and anti-corruption challenges."
On 24 March 2014, the G7 convened an emergency meeting in response to
the Russian Federation's annexation of Crimea at the Dutch
The Hague because all G7 leaders were already present to
2014 Nuclear Security Summit . This was the first G7
meeting neither taking place in a member nation nor having the host
leader participating in the meeting.
On 4 June 2014 leaders at the G7 summit in Brussels, condemned Moscow
for its "continuing violation" of Ukraine's sovereignty, in their
joint statement and stated they were prepared to impose further
sanctions on Russia. This meeting was the first since
expelled from the group G8 following its annexation of Crimea in
The annual G7 leaders summit is attended by the heads of government.
The member country holding the G7 presidency is responsible for
organizing and hosting the year's summit.
The serial annual summits can be parsed chronologically in arguably
distinct ways, including as the sequence of host countries for the
summits has recurred over time, series, etc.
LIST OF SUMMITS
15–17 November 1975
Valéry Giscard d\'Estaing
Rambouillet (Castle of
27–28 June 1976
Gerald R. Ford
Dorado , Puerto Rico
Also called "
Canada joined the group, forming the
7–8 May 1977
President of the European Commission was invited to join the annual
16–17 July 1978
Bonn , North Rhine-Westphalia
28–29 June 1979
22–23 June 1980
Prime Minister Ōhira died in office on 12 June; Foreign Minister
Saburō Ōkita led the delegation which represented
Japan in his
20–21 July 1981
Pierre E. Trudeau
4–6 June 1982
28–30 May 1983
Williamsburg , Virginia
7–9 June 1984
2–4 May 1985
Bonn , North Rhine-Westphalia
4–6 May 1986
8–10 June 1987
19–21 June 1988
Toronto , Ontario
14–16 July 1989
9–11 July 1990
George H. W. Bush
15–17 July 1991
6–8 July 1992
Munich , Bavaria
7–9 July 1993
8–10 July 1994
15–17 June 1995
Halifax , Nova Scotia
27–29 June 1996
International organizations ' debut to G7 Summits periodically. The
invited ones here were: United Nations, World Bank , International
Monetary Fund and the
World Trade Organization .
20–22 June 1997
Russia joins the group, forming G8
15–17 May 1998
18–20 June 1999
Cologne , North Rhine-Westphalia
First Summit of the
G-20 major economies at
21–23 July 2000
Nago , Okinawa
Formation of the
G8+5 starts, when
South Africa was invited. Until
38th G8 summit in 2012, it has been invited to the Summit annually
without interruption. Also, with permission from a G8 leader, other
nations were invited to the Summit on a periodical basis for the first
time. Nigeria, Algeria and Senegal accepted their invitations here.
World Health Organization was also invited for the first time.
20–22 July 2001
Leaders from Bangladesh, Mali and El Salvador accepted their
invitations here. Demonstrator
Carlo Giuliani is shot and killed by
police during a violent demonstration. One of the largest and most
violent anti-globalization movement protests occurred for the 27th G8
summit . Following those events and the
September 11 attacks
September 11 attacks two
months later in 2001, the G8 have met at more remote locations.
26–27 June 2002
Kananaskis , Alberta
Russia gains permission to officially host a G8 Summit .
2–3 June 2003
G8+5 was _unofficially_ made, when China, India, Brazil, and
Mexico were invited to this Summit for the first time. South Africa
has joined the G8 Summit, since 2000, until the 2012 edition. Other
first-time nations that were invited by the French president included:
Egypt, Morocco, Saudi Arabia, Malaysia and Switzerland.
8–10 June 2004
George W. Bush
Sea Island, Georgia
A record number of leaders from 12 different nations accepted their
invitations here. Amongst a couple of veteran nations, the others
were: Ghana, Afghanistan, Bahrain, Iraq, Jordan, Turkey, Yemen and
Uganda. Also, the state funeral of former president Ronald Reagan
took place in Washington during the summit.
6–8 July 2005
G8+5 was officially formed. On the second day of the meeting,
suicide bombers killed 52 people on the
London Underground and a bus.
Nations that were invited for the first time were Ethiopia and
African Union and the
International Energy Agency
International Energy Agency made
their debut here. During the
31st G8 summit in United Kingdom,
225,000 people took to the streets of Edinburgh as part of the Make
Poverty History campaign calling for Trade Justice, Debt Relief and
Better Aid. Numerous other demonstrations also took place challenging
the legitimacy of the G8.
15–17 July 2006
Strelna , St. Petersburg
First G8 Summit on Russian soil. Also, the International Atomic
Energy Agency and
UNESCO made their debut here.
6–8 June 2007
Heiligendamm , Mecklenburg-Vorpommern
Seven different international organizations accepted their
invitations to this Summit. The Organisation for Economic Co-operation
and Development and the
Commonwealth of Independent States made their
7–9 July 2008
Toyako (Lake Toya) , Hokkaido
Nations that accepted their G8 Summit invitations for the first
time are: Australia, Indonesia and South Korea.
8–10 July 2009
La Maddalena (cancelled)
L\'Aquila , Abruzzo (re-located)
This G8 Summit was originally planned to be in La Maddalena
Sardinia ), but was moved to
L'Aquila as a way of showing Prime
Minister Berlusconi's desire to help the region after the 2009
L\'Aquila earthquake . Nations that accepted their invitations for the
first time were: Angola, Denmark, Netherlands and Spain. A record of
TEN (10) international organizations were represented in this G8
Summit. For the first time, the
Food and Agriculture Organization
Food and Agriculture Organization ,
International Fund for Agricultural Development , the World Food
Programme , and the
International Labour Organization accepted their
25–26 June 2010
Malawi, Colombia, Haiti, and Jamaica accepted their invitations for
the first time.
26–27 May 2011
Deauville , Basse-Normandie
Guinea, Niger, Côte d'Ivoire and Tunisia accepted their
invitations for the first time. Also, the League of Arab States made
its debut to the meeting.
18–19 May 2012
Camp David (re-located)
The summit was originally planned for Chicago, along with the NATO
summit , but it was announced officially on 5 March 2012, that the G8
summit will be held at the more private location of
Camp David and at
one day earlier than previously scheduled. Also, this is the second
G8 summit, in which one of the core leaders (Vladimir Putin) declined
to participate. This G8 summit concentrated on the core leaders only;
no non-G8 leaders or international organizations were invited.
17–18 June 2013
Lough Erne ,
As in 2012, only the core members of the G8 attended this meeting.
The four main topics that were discussed here were trade, government
transparency, tackling tax evasion, and the ongoing Syrian crisis.
4–5 June 2014
Vladimir Putin (cancelled)
Herman Van Rompuy
Herman Van Rompuy (new) and
José Manuel Barroso
G7 summit as an alternative meeting without
Russia in 2014 due to
association with Crimean crisis . G8 summit did not take place in
Sochi, Russia. G7 summit relocated to Brussels, Belgium.
7–8 June 2015
Schloss Elmau , Bavaria
Summit dedicated to focus on the global economy as well as on key
issues regarding foreign, security and development policy. Global
Apollo Programme was also on the agenda.
26–27 May 2016
The G7 leaders aim to address challenges affecting the growth of
the world economy , like slowdowns in emerging markets and drops in
price of oil . The G7 also issued a warning on the
United Kingdom that
"a UK exit from the EU would reverse the trend towards greater global
trade and investment, and the jobs they create and is a further
serious risk to growth". Commitment to an EU–
Japan Free Trade
26–27 May 2017
Taormina , Sicily
G7 leaders emphasized common endeavours: to end the Syrian crisis,
to fulfill the UN mission in Libya and reducing the presence of ISIS,
ISIL and Da'esh in Syria and Iraq. North Korea was urged to comply
with UN resolutions, Russian responsibility was stressed for the
Ukraine conflict. Supporting economic activity and ensuring price
stability was demanded while inequalities in trade and gender were
called to be challenged. It was agreed to help countries in creating
conditions that address the drivers of migration: ending hunger,
increasing competitiveness and advancing global health security.
TBD , 2018
La Malbaie ,
TBD , 2019
TBD , 2020
TBD , 2021
HEAD OF GOVERNMENT
CENTRAL BANK GOVERNOR
Minister of Finance
Minister of the Economy
Bruno Le Maire
François Villeroy de Galhau
Minister of Finance
Minister of Economy
Pier Carlo Padoan
Minister of Finance
Chancellor of the Exchequer
Secretary of the Treasury
Commissioner for Economic
and Monetary Affairs
and the Euro
HEADS OF STATE AND GOVERNMENT AND EU REPRESENTATIVES, AS OF 2017
Justin Trudeau ,
Emmanuel Macron ,
Angela Merkel ,
Paolo Gentiloni ,
Shinzō Abe ,
Theresa May ,
Donald Trump ,
Donald Tusk ,
President of the
Jean-Claude Juncker ,
President of the
MEMBER COUNTRY DATA
TRADE MIL. USD (2014)
NOM. GDP MIL. USD (2014)
PPP GDP MIL. USD (2014)
NOM. GDP PER CAPITA USD (2014)
PPP GDP PER CAPITA USD (2014)
PERMANENT MEMBERS OF UN SECURITY COUNCIL
ECONOMIC CLASSIFICATION (
The G7 is composed of the wealthiest developed countries by national
net wealth (See
National wealth ). The People's Republic of China,
according to its data, would be the third-largest (9.1% of the world
net wealth) in the world, but is excluded because the
IMF and other
main global institutions don't consider
China a developed country. As
of 2014 Credit Suisse report the G7 (without the European Union)
represents above 64% of the global net wealth . Including the EU the
G7 represents over 70% of the global net wealth.
* 7 of the 7 top-ranked advanced economies with the current largest
GDP and with the highest national wealth (United States, Japan,
Germany, UK, France, Italy, Canada).
* 7 of the 15 top-ranked countries with the highest net wealth per
capita (United States, France, Japan, United Kingdom, Italy, Canada,
* 7 of 10 top-ranked leading export countries .
* 5 of 10 top-ranked countries with the largest gold reserves
(United States, Germany, Italy, France, Japan).
* 7 of 11 top-ranked economies (by nominal GDP ), according to
latest (2012 data) International Monetary Fund's statistics.
* 5 countries with a nominal GDP per capita above US$40,000 (United
States, Canada, Germany, United Kingdom, France).
* 4 countries with a sovereign wealth fund , administered by either
a national or a state/provincial government (United States, France,
* 7 of 30 top-ranked nations with large amounts of foreign-exchange
reserves in their central banks .
* 3 out of 9 countries having nuclear weapons (France, UK, United
States), plus 2 countries that have nuclear weapon sharing programs
* 6 of the 9 largest nuclear energy producers (United States,
France, Japan, Germany, Canada, UK), although
Germany announced in
2011 that it will close all of its nuclear power plants by 2022.
2011 Tōhoku earthquake and tsunami ,
Japan shut down
all of its nuclear reactors. However,
Japan restarted several nuclear
reactors, with the refueling of other reactors underway.
* 7 of the 10 top donors to the UN budget for the 2016 annual fiscal
* 4 countries with a HDI index for 2013 of 0.9 and higher (United
States, Germany, United Kingdom, Canada).
* 2 countries with the highest credit rating from Standard
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